Agoracom Blog
Alert, Alert, Alert 8:00AM EST
Posted by
at 7:57 AM on Monday, October 27th, 2008
cooler heads always prevail …. I may be dating myself, but anyone who ever watched the keystone cops can see the analogy with the market today and over the last few years … every item of news and its interpretation by the media and then the interpretation of the markets reaction is an attention getter and the now generation investors drop everything for the next opportunity/crisis before they miss out without even questioning the credentials. Worse that that we have a bunch of pretty people who in all likelihood went to journalism school on to become tv stars on the business channel without a clue when it comes to macro economic conditions and value investing. Kinda reminds me of the days Jim Bakker and Tammy Faye and Swaggart made prime time news.
Investors became seduced by the snake oil of technical analysis which could only even exist when computing power was sufficient to bring to the masses so they could analyze it like a baseball game and play the pecentages in their calculated gambling. You can make the trend your friend, but not in an unregulated market where rules of the jungle apply.
The big investment houses became like packs and gangs but there is always someone bigger and younger and hungrier in the jungle, and intimidation tactics only work so long.
Perhaps the most amazing thing I find is the way I am ridiculed by those in the same social circle who have been mesmorized and brain washed into the belief that we could not repeat the errors of the past. Like a pack when I bring up facts I inevitably get compared to chicken little … nothing like name calling to bring me back to the days of my youth where I was surrounded by … on the one hand infantile pack behaviour … and on the other the sensible teachings of my elders.
Those were the days oh yes those were the days.
Orgy
LOL Love the analogy of the Keystone Cops, Orgy.
http://www.youtube.com/watch?v=mzJmTCYmo9g&eurl=http://punchbaby.com/2008/10/subprime-explained/
here’s a funny satire explaining the sub prime market